chpt 10 vocab
Terms
undefined, object
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- advertising
- paid form of communication through mass media directed to a specific customer to provide info and influence to their actions
- marketing
- is the process of planning and excuting the conception, pricing, promotion and distribution of ideas
- marketing reasearch
- finding solutions to problems through carefully designed studies involving consumers
- price
- is the money a customer must pay for a product or service
- mark up
- the amount added to the costo fa product to the selling price
- distribution
- determining the best ways for customers to locate, obtain, and use the proucts and services of an organization
- services
- are activites that are consumed at the same time they are produced
- personal selling
- communication with customers to asses their needs
- channel member
- the business that take part in a channel of distibution
- intagible
- meaning that have no physical form
- channel of distribution
- the route of a product follows and the business involved in a moving products form the producer to the final consumer
- target market
- specific group of customers that have similar wants and needs
- effective communication
- the excahnge of info so there is common understanding by all participants
- marketing strategy
- a company's plan that identifies how it will use marketing to achieve it's goal
- decoding
- the interpretation of info
- promotion
- the advancement of an employee to a greater position
- market mixing
- blending of four marketing elements -products, disturbution, price and promotion
- final consumers
- a person who buys products and services mostly for their own use
- business consumers
- are people companies and organizations that buy products for the operation of a business
- marketing orientation
- considers the needs of customers when developing a marketing mix
- consumer decision making process
- the specific sequence of steps consumers follow to make a purchase
- product
- everything a business offers to satisfy a customers needs